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New Development Bank (NDB) has agreed to fund the Shimla Urban Transport Ropeway Project

Current Affairs

  • The New Development Bank (NDB) has agreed to fund the Shimla Urban Transport Ropeway Project.
  • The project will be implemented under the 90:10 financial scheme by the Centre and the state.
  • This information was given by RD Nazeem, Principal Secretary, Transport.
  • The cost of the project, the first of its kind in the country, will be around Rs 1,600 crore.
  • The ropeway will have a network of 14.69 km, starting from Taradevi, the entry point to the city. It will have 15 boarding and de-boarding stations close to the circular road.
  • “The stations will be built along the circular road so that people have easy access to cable cars. Parking lots will also be created near these stations,” said Rohit Thakur, Chief General Manager, Ropeway and Rapid Transport System Development Corporation (RRTSDC), the implementing agency of the project.

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